Mark Boehmig
Realtor,
GRI, CLHMS(941)807-6936
markboehmig@michaelsaunders.com
MarkitSoldFL.com
COUNTRY CLUB EAST
Published: March 2024*
Property Types: Single Family Home - All Property Statuses
Price Range: $0 - No
Range: 0 - No Limit Bedrooms: 0 - No
0
February 2024 was a Neutral market! The number of for sale listings was up 100% from one year earlier and up 3.4% from the previous month. The number of sold listings increased 66.7% year over year and increased 66.7% month over month. The number of under contract listings was up 40% compared to previous month and up 75% compared to previous year. The Months of Inventory based on Closed Sales was 6, up 20% from the previous year.
The Average Sold Price per Square Footage was up 17.4% compared to previous month and down 5.4% compared to last year. The Median Sold Price increased by 0.4% from last month. The Average Sold Price also increased by 8.9% from last month. Based on the 6 month trend, the Average Sold Price trend was "Neutral" and the Median Sold Price trend was "Neutral".
The Average Days on Market showed a neutral trend, an increase of 50% compared to previous year. The ratio of Sold Price vs. Original List Price was 90%, a decrease of 6.2% compared to previous year.
It was a Neutral Market
Property Sales (Sold)
February property sales were 5, up 66.7% from 3 in February of 2023 and 66.7% higher than the 3 sales last month.
Current Inventory (For Sale)
Versus last year, the total number of properties available this month was higher by 15 units of 100%. This year's bigger inventory means that buyers who waited to buy may have bigger selection to choose from. The number of current inventory was up 3.4% compared to the previous month.
Property Under Contract (Pended)
There was an increase of 40% in the pended properties in February, with 7 properties versus 5 last month. This month's pended property sales were 75% higher than at this time last year.
Mark Boehmig
Realtor, GRI, CLHMS (941)807-6936
markboehmig@michaelsaunders.com
MarkitSoldFL.com
COUNTRY CLUB EAST
Published: March 2024*
Property Types: Single Family Home - All Property Statuses
Price
The Average Sold Price per Square Footage was Neutral*
The Average Sold Price per Square Footage is a great indicator for the direction of property values. Since Median Sold Price and Average Sold Price can be impacted by the 'mix' of high or low end properties in the market, the Average Sold Price per Square Footage is a more normalized indicator on the direction of property values. The February 2024 Average Sold Price per Square Footage of $527 was up 17.4% from $449 last month and down 5.4% from $557 in February of last year.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
The Days on Market Showed Neutral Trend*
The average Days on Market (DOM) shows how many days the average property is on the market before it sells. An upward trend in DOM trends to indicate a move towards more of a Buyer’s market, a downward trend indicates a move towards more of a Seller’s market. The DOM for February 2024 was 81, up 32.8% from 61 days last month and up 50% from 54 days in February of last year.
The Sold/Original List Price Ratio was Falling**
The Sold Price vs. Original List Price reveals the average amount that sellers are agreeing to come down from their original list price. The lower the ratio is below 100% the more of a Buyer’s market exists, a ratio at or above 100% indicates more of a Seller’s market. This month Sold Price vs. Original List Price of 90% was down 4.3% % from last month and down from 6.2% % in February of last year.
* Based on 6 month trend – Upward/Downward/Neutral
** Based on 6 month trend – Rising/Falling/Remains Steady
Mark Boehmig
Realtor, GRI, CLHMS (941)807-6936
markboehmig@michaelsaunders.com
MarkitSoldFL.com
COUNTRY CLUB EAST
Published: March 2024* Property Types: Single Family Home - All Property Statuses
The Average For Sale Price was Neutral*
The Average For Sale Price in February was $1,298,000, down 0.2% from $1,301,000 in February of 2023 and up 0.5% from $1,292,000 last month.
The Average Sold Price was Neutral*
The Average Sold Price in February was $1,383,000, down 25.8% from $1,863,000 in February of 2023 and up 8.9% from $1,270,000 last month.
The Median Sold Price was Neutral*
The Median Sold Price in February was $1,255,000, down 33.8% from $1,895,000 in February of 2023 and up 0.4% from $1,250,000 last month.
* Based on 6 month trend – Appreciating/Depreciating/Neutral
It was a Neutral Market*
A comparatively lower Months of Inventory is more beneficial for sellers while a higher months of inventory is better for buyers.
*Buyer’s market: more than 6 months of inventory
Seller’s market: less than 3 months of inventory
Neutral market: 3 – 6 months of inventory
Months of Inventory based on Closed Sales
The February 2024 Months of Inventory based on Closed Sales of 6 was increased by 20% compared to last year and down 38.3% compared to last month. February 2024 was Neutral market.
Months of Inventory based on Pended Sales
The February 2024 Months of Inventory based on Pended Sales of 4.3 was increased by 13.3% compared to last year and down 25.9% compared to last month. February 2024 was Neutral market.
Mark Boehmig
Realtor, GRI, CLHMS (941)807-6936
markboehmig@michaelsaunders.com
MarkitSoldFL.com
COUNTRY CLUB EAST
It was a Buyer's Market*
Absorption Rate measures the inverse of Months of Inventory and represents how much of the current active listings (as a percentage) are being absorbed each month.
*Buyer’s market: 16.67% and below
Seller’s market: 33.33% and above
Neutral market: 16.67% - 33.33%
Absorption Rate based on Closed Sales
The February 2024 Absorption Rate based on Closed Sales of 16.7 was decreased by 16.5% compared to last year and up 61.9% compared to last month.
Absorption Rate based on Pended Sales
The February 2024 Absorption Rate based on Pended Sales of 23.3 was decreased by 12.7% compared to last year and up 35.4% compared to last month.
